Suppose that at the start of the day an open-ended mutual fund is holding 1500 shares of Tesla at $291.90 per share, 3,000 shares of Starbucks at $70.62 per share, 2,500 shares of Chipotle at $599.09 per share, and 500 shares of Costco at $214.50 per share. There are 100,000 shares of the mutual fund outstanding.

2,000 new shares of the mutual fund are purchased during the day, and the mutual fund manager invests all of the new money in Ulta at $10 per share. If at the end of the day Tesla is $300 per share, Starbucks is $60 per share, Chipotle is $600 per share, Costco is $200 per share and Ulta is $20 per share; then what is the net asset value at the end of the day?

Group of answer choices

$21.86

$23.02

$22.75

$22.30

Answer rating: 100% (QA)

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